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A 19-level 1970s commercial building in Melbourne has undergone
a $7 million environmental upgrade that more than halving its base
building energy use and carbon emissions.

The 501 Swanston Street project included new energy efficient
regenerative braking elevators, a full upgrade of the plant room,
chillers and boilers, and solar film for the windows to lessen the
load on air conditioning.

Carbon emissions dropped by just over 500 tonnes a year and the
upgrade created additional savings of more than $80,000 a year in
utility costs.

The project used an Environmental Upgrade Agreement involving
the City of Melbourne and finance from National Australia Bank and
the CEFC under The Australian Environmental Upgrade Fund (TAEUF)
administered by Eureka Real Assets.